Core Insights - Noodles & Company is facing challenges in increasing guest counts and is implementing catering discounts to attract customers during the holiday season [1][2] - The company has been developing its catering business over the past two years, successfully promoting its noodle trays as suitable for catering [3] - Noodles & Company is also encouraging gift card purchases and running a promotional giveaway to engage customers [4][5] Catering Discounts - The chain is offering a 25% discount on the second catering pan ordered through November with the code PANS25 [2] - From November 18 to the end of the year, a 15% discount is available on catering orders over $150 using the code MERRYNOODLES [2] - The discounts cannot be combined [2] Catering Business Development - Noodles & Company has focused on its catering business, highlighting that its noodle trays, including popular mac & cheese, are well-suited for catering [3] - The company has seen some success in this area, aiming to provide varied options to avoid customer veto votes [3] Gift Card Promotions - The company is promoting gift card sales by offering a $10 bonus card for purchases of $50 or more on gift cards from November 5 to the end of the year [3] - A giveaway of 100 $50 gift cards is being held from November 17 to 24, aimed at consumers who prefer noodles over pizza during the holidays [4] Sales Performance and Management Changes - Sales began to decline in early 2023 due to aggressive price hikes, with new CEO Drew Madsen indicating deeper operational issues [6] - A new menu was introduced in March, and the "Delicious Duos" combo meal was launched on July 30, initially boosting sales and traffic [7] - The company has engaged Piper Sandler to explore potential sale options among other strategies [7]

Core Insights - Noodles & Company is experiencing declining traffic attributed to a perceived erosion of value, prompting the company to offer significant discounts to loyalty program members from October 4 to October 6 [1][2] Promotions and Discounts - The chain is celebrating its 30th anniversary by offering classic dishes at 1990s-level discounts, with prices temporarily reduced to $4.95 for items that typically range from $7.25 to $10.25 [2] - The promotion is available to members of the Noodles Rewards loyalty program, which provides points for every dollar spent and includes a birthday reward, with new members receiving a free entrée after their first purchase of $10 or more [3] Leadership and Strategic Changes - Joe Christina has been appointed as CEO effective August 31, following the resignation of Drew Madsen, and he aims to honor the company's legacy while looking forward to new offerings [4] - Shortly after Christina's appointment, the company initiated a significant menu revamp and has been focusing on operational improvements, including staff training and technology upgrades [5] Financial and Compliance Issues - The company has reported a 2.5% decline in traffic, attributed to increased price sensitivity among customers, and has engaged Piper Sandler to explore future options, including a potential sale [5] - Noodles & Company is currently out of compliance with Nasdaq regulations due to its share price being below $1 for over 30 consecutive business days, marking the second instance of non-compliance within a year [6]